01/09/2024
Sales surge 12 per cent to US$14.9 billion as mainland visitors continue buying spree to chase better returns and hedge the yuan.
Life insurance sales in Hong Kong surged by 12 per cent in the first half to a record high as a buying spree continued among mainland visitors and wealthy individuals in Hong Kong. A world record policy also helped.
New life insurance sales rose to HK$115.9 billion (US$14.9 billion) from the HK$103 billion reported in the same period last year, which itself was a record, according to the Insurance Authority.
The level is the highest since the authority was established in 2016 and 16 per cent higher than the total of HK$99.9 billion in the first half of 2019, before the Covid-19 pandemic.
